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Housing Doom is pleased to present the third installment of our unauthorized annotated transcript of the American Enterprise Institute’s March 17, 2009 seminar "The Deflating Bubble, Part V: Forecast and Policy Recommendations for the Next Six Months." [1] This is the presentation by Tom Zimmerman [scroll down]. The event site has several resources, including both …

Reggie’s putting his cards on the table [1] with respect to a powerful indictment of the Fed Stress Tests. I thought this was important enough today to pass it up the line for Implode-O-Meter to consider, but since then it’s gotten thumbs-up from both Doomer V and one of SeekingAlpha’s top commenters, so it probably …

He told the committee [French], looking into how the Caisse lost $40 billion in the value of its portfolio last year, that Caisse managers considered the commercial paper to be safe, an opinion reinforced by the DBRS bond-rating service, which blessed it with its top AAA rating. Warning signals came, Bergeron said, when Coventree,[2] a …

… "Thank you for contacting us regarding "share entitlements". When you purchase stock, they are held in ¿book-entry¿ (electronic) form but in"Street-Name". This provides secure and reliable methods of ownership,without the risks and worries that can be associated with a paper certificate. Due to a change implemented by the Depository Trust Company (DTC) and approved …

In fact, since the financial crisis began, American taxpayers have provided more than $300 billion dollars to more than 450 companies. During that same period, from their government, Canadian banks have not received one penny. [1] That’s a useful myth, but it happens not to be true. Doomers who run through our Canadian subject category …

Housing Doom is pleased to present the first installment of our unauthorized annotated transcript of the American Enterprise Institute’s March 17, 2009 seminar "The Deflating Bubble, Part V: Forecast and Policy Recommendations for the Next Six Months." [5] This is the introduction by session moderator Alex Pollock. The event site has several resources, including both …

Describing creditor violence, Plutarch describes how Sparta’s king Agis IV and his successor Cleomenes III sought to cancel the debts late in the 3rd century BC. The city-state’s creditors murdered Agis, drove Cleomenes to suicide in exile, and killed Sparta’s next leader, Nabis – and then called in Rome to fight against pro-debtor democracies throughout …

Mike made the point [13] that most people in developing countries are more exploited and miserable than the typical American, mortgage crisis or not. He has a point. I know just what it means to be able to buy bananas for 69 cents/lb at the local supermarket. It’s just that this level of exploitation seems …

… Iceland is confronted by more powerful nations, headed by the United States and Britain. They are unleashing their propagandists and mobilizing the IMF and World Bank to demand that Iceland not defend itself by wiping out its bad debts. Yet these creditor nations so far have taken no responsibility for the current credit mess. …

I’m more than usually over my head this week, what with the WSJ reporting that general foreign investor demand for treasuries had strongly rebounded in February,[1] but that yesterday T-bills sold off strongly.[2] What’s really bizarre was that last week’s foreign Treasury Debt buy was nearly the largest Doom has ever seen. Obviously that didn’t …